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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias on saturday before closing with 0.18% gain at 22378 level. Banking index lagged the benchmark index as it closed unchanged at 47286 level.

* India VIX closed with 1.59% cut at 14.49 level.

* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 1.75% gain while NIFTYMNC index underperformed as it closed with 0.10% gain.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.74% and 0.69% gains respectively.

* Advance/Decline ratio was in favour of Advances and cash turnover was lower than 5-day average. Both FII and DII were net sellers in the cash segment.

* European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 22250 - 22200 level and resistance at 22500 - 22550 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47000 - 46800 level and resistance at 47600 - 47800 level.

* JSWSTEEL has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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